Overview
What is Friends Of The Lyric Inc?
Friends of The Lyric Inc is a nonprofit organization, established in 1987, dedicated to revitalizing a historical theatre building in downtown Stuart, Florida. The organization's primary mission is to offer a venue for the performing arts, catering to both entertainment and education, thereby stimulating artistic growth for the community. They achieve this by producing concerts, plays, lectures, and various performances. Additionally, they preserve the historic theatre building, and rent it out to community groups for ceremonies and shows. With a team of 48 employees, Friends of The Lyric Inc contributes to the cultural landscape of Stuart, Florida, by hosting classical theatre presentations, concerts, dance productions, school and civic programs, private parties, and weddings at their nationally registered historical theatre, The Lyric Theatre.
Official website here: www.lyrictheatre.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Stars)
Friends Of The Lyric Inc has received a solid Three-Star rating from Charity Navigator, indicating a strong level of accountability and financial health. The organization has demonstrated excellent governance with 100% independent board members and a comprehensive set of policies in place, including conflict of interest and whistleblower policies. Their financial metrics are commendable, with a low liabilities-to-assets ratio and high program expense ratio, ensuring that a significant portion of their funding is directed towards their mission.
The charity’s fundraising efficiency is also noteworthy, with only $0.20 spent to raise a dollar, suggesting effective fundraising strategies. Additionally, the organization maintains a favorable working capital ratio, indicating good liquidity and the ability to meet short-term obligations. These strengths position Friends Of The Lyric Inc as a reliable and financially responsible nonprofit.
While the organization exhibits robust financial and governance practices, continuous monitoring is essential to ensure these standards are upheld. Overall, Friends Of The Lyric Inc stands out as a responsible nonprofit committed to its mission, making it a trustworthy choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of The Lyric Inc legitimate?
Friends Of The Lyric Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of The Lyric Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $170,030
Professional Fundraising Fees: $0
Other Salaries and Wages: $535,257
For more financial information, click here
Official website here: www.lyrictheatre.com
What is the mission statement of Friends Of The Lyric Inc?
Friends of The Lyric Inc's mission is centered around providing the community with a platform for the performing arts. This venue aims to entertain, educate, and foster the growth of artistic integrity and experiences for everyone. Established in 1987, the organization's primary goal was to restore and operate a historic theatre building located in an unspecified location. The organization hosts a variety of events, including classical theatre presentations, concerts, dance productions, school and civic programs, private parties, and weddings. Friends of The Lyric Inc also rents out the theatre to community groups for ceremonies and shows, preserving the rich history of this architectural gem.
Official website here: www.lyrictheatre.com
Who is the CEO of Friends Of The Lyric Inc?
Kia Fontaine is the Board Chair of Friends Of The Lyric Inc. The CEO's salary of Friends Of The Lyric Inc is $183,280 and their total compensation is $190,017.
Official website here: www.lyrictheatre.com
What is the revenue of Friends Of The Lyric Inc?
Friends Of The Lyric Inc's revenue in 2022 was $3,072,716.
Official website here: www.lyrictheatre.com
Who are the executives of Friends Of The Lyric Inc and what are their salaries?
The average compensation at Friends Of The Lyric Inc during 2022 was $14,693. There are 48 employees and 80 volunteers at Friends Of The Lyric Inc.
Here are 12 key members and their salaries (Friends Of The Lyric Inc's CEO's salary is $183,280 and their total compensation is $190,017):
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- Compensation: $183,280
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- Other: $6,737
Official website here: www.lyrictheatre.com
Where can I find the form 990 for Friends Of The Lyric Inc?
Friends Of The Lyric Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lyrictheatre.com
Learn more at the official website: www.lyrictheatre.com
Mission Statement of Friends Of The Lyric Inc
Friends of the Lyric Inc, established in 1987, has a mission to offer the community a space for the performing arts that both entertains and educates, fostering artistic growth and experience for all. The organization's primary objective is to restore and operate a historic 1926 theatre building located in an unspecified downtown area. Friends of the Lyric Inc presents a variety of classical theatre performances, concerts, dance productions, school programs, civic events, private parties, and weddings within this restored theatre. By doing so, the nonprofit aims to preserve this historical building while providing a platform for artistic expression and community engagement. The organization's activities serve to enrich the cultural landscape by offering a diverse range of performances and events that cater to various interests and audiences.
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Impact
July, 2024
Friends Of The Lyric Inc's impact is significant in providing the community with a home for the performing arts that entertains, educates, and stimulates the growth of artistic integrity and experience for everyone in Stuart, FL. Through the production of concerts, plays, lectures, and other performances, as well as the preservation of a historic theatre building, they contribute to the cultural enrichment of the community. Additionally, by renting out the theatre to community groups for ceremonies and shows, they facilitate a platform for diverse artistic expressions and celebrations. Their mission of restoring and operating the 1926 theatre building in downtown Stuart aligns with their goal of offering classical theatre presentations, concerts, dance productions, school and civic programs, private parties, and weddings, thus ensuring the preservation and availability of this cultural landmark for generations to come.
This information is meant to be a general summary of Friends Of The Lyric Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $3,753
- Program Service Revenue: $1,679,967
- Gross Receipts: $3,146,798
Assets and Liabilities:
- Total Assets: $5,924,513
- Total Liabilities: $814,609
- Net Assets: $5,109,904
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PRODUCTION & SHOWS
Revenue
$1,337,137
THEATRE RENTALS
Revenue
$170,763
SURCHARGE INCOME
Revenue
$105,095
ADVERTISING
Revenue
$42,766
SUMMER CAMP
Revenue
$24,206
Organization Details
Founding Year
1987
Phone
(772) 220-1942Principal Officer
Kia Fontaine
Main Address
59 SW FLAGLER AVENUE, STUART, FL, 34994
Website
www.lyrictheatre.comNTEE Category
Code: A600 - Arts
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